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City of Odessa News - June 12, 2009

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from:City Of Odessa category:Government and Politics posted:June 16th, 2009

The City of Odessa received its June sales tax check in the amount of $1,638,548.52. This amount includes the Economic Development sales tax of ¼ cent.  The City of Odessa will receive $1,310,838.82 and the Odessa Development Corporation will receive $327,709.70.

The City saw a decrease in sales tax revenue with June’s sales tax revenue total of $1,310,838.82, which reflects a $203,925.40 or 13.46% decrease as compared to June 2008.

The year to date total sales tax revenue for fiscal year 2008-09 is up 5.93% or $839,540.89 as compared to budgeted amount expected at this point in the fiscal year.

In addition, 2008-09 year to date amount is above the previous fiscal year to date amount by $992,681.58 or 7.08%.

The City has budgeted $19,191,000.00 in sales tax revenues in this fiscal year.

Sales tax revenue is generated by sales tax revenue from two months prior to collection,
i.e., June’s collection is based on April sales. 

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